Value Place Plans to Build Dozen Hotels in Southern California
Wednesday February 26th, 2014 - 10:12AM G
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WICHITA, KS—Value Place plans to build 12 hotels in southern California as it begins expanding the hotel brand there. Value Place is actively pursuing potential building sites.
Value Place is working with San Diego-based KZ DevCo, which has a development portfolio in the region, including CVS Pharmacy, Starbucks, Petco, Burger King, 7-Eleven, Applebee’s, Whole Foods and FedEx Office (formerly Kinkos).
Targeted markets include, but are not limited to, metro Los Angeles, San Diego, Long Beach, Orange County, Riverside and Ventura. Some of the new Value Place properties will be corporate owned and operated, while others will be developed by Value Place franchisees.
“Housing and lodging costs are particularly challenging for travelers and new residents here, which is one of the reasons Value Place is a great fit,” says KZ DevCo general partner, Mark Zimmerman.
Tags: Value Place • California • Hospitality • Construction/Renovation •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.